Wayfair’s (W) “Hold” Rating Reiterated at KeyCorp
A number of other brokerages also recently issued reports on W. Maxim Group set a $49.00 price objective on shares of Wayfair and gave the company a buy rating in a research report on Tuesday, August 9th. Veritas Investment Research reissued a hold rating on shares of Wayfair in a research report on Friday, August 5th. Zacks Investment Research raised shares of Wayfair from a sell rating to a hold rating in a research report on Wednesday, September 21st. Vetr downgraded shares of Wayfair from a buy rating to a hold rating and set a $42.28 price objective on the stock. in a research report on Thursday, September 8th. Finally, Pacific Crest reissued an equal weight rating on shares of Wayfair in a research report on Sunday, August 14th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of Hold and an average price target of $51.15.
Wayfair (NYSE:W) opened at 35.50 on Tuesday. Wayfair has a 1-year low of $27.60 and a 1-year high of $50.00. The firm has a 50 day moving average of $36.53 and a 200-day moving average of $39.03. The company’s market capitalization is $3.02 billion.
Wayfair (NYSE:W) last issued its earnings results on Tuesday, November 8th. The company reported ($0.54) EPS for the quarter, topping the consensus estimate of ($0.59) by $0.05. Wayfair had a negative net margin of 5.29% and a negative return on equity of 81.46%. The company had revenue of $861.50 million for the quarter, compared to the consensus estimate of $849.42 million. During the same period in the previous year, the firm earned ($0.13) earnings per share. The firm’s revenue for the quarter was up 45.0% on a year-over-year basis. On average, equities research analysts anticipate that Wayfair will post ($1.69) earnings per share for the current fiscal year.
In other news, insider Edmond Macri sold 1,533 shares of the firm’s stock in a transaction on Tuesday, August 16th. The stock was sold at an average price of $39.12, for a total transaction of $59,970.96. Following the transaction, the insider now owns 238,108 shares in the company, valued at $9,314,784.96. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jeremy Delinsky sold 2,871 shares of the firm’s stock in a transaction on Thursday, November 3rd. The shares were sold at an average price of $32.12, for a total value of $92,216.52. Following the transaction, the insider now owns 53,042 shares in the company, valued at approximately $1,703,709.04. The disclosure for this sale can be found here. 63.94% of the stock is owned by corporate insiders.
Several institutional investors have recently made changes to their positions in the stock. FMR LLC raised its position in shares of Wayfair by 2.5% in the second quarter. FMR LLC now owns 7,093,073 shares of the company’s stock valued at $276,630,000 after buying an additional 169,776 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Wayfair by 9.9% in the second quarter. Vanguard Group Inc. now owns 2,113,511 shares of the company’s stock valued at $82,427,000 after buying an additional 190,273 shares in the last quarter. Baillie Gifford & Co. raised its position in shares of Wayfair by 134.8% in the second quarter. Baillie Gifford & Co. now owns 1,509,644 shares of the company’s stock valued at $58,876,000 after buying an additional 866,829 shares in the last quarter. Lord Abbett & CO. LLC raised its position in shares of Wayfair by 0.7% in the second quarter. Lord Abbett & CO. LLC now owns 1,394,795 shares of the company’s stock valued at $54,397,000 after buying an additional 10,074 shares in the last quarter. Finally, Jennison Associates LLC raised its position in shares of Wayfair by 1.0% in the third quarter. Jennison Associates LLC now owns 1,328,692 shares of the company’s stock valued at $52,311,000 after buying an additional 13,405 shares in the last quarter. Hedge funds and other institutional investors own 72.12% of the company’s stock.
Wayfair Inc (Wayfair) offers browsing, merchandising, product discovery and prices for a range of products from suppliers across various brands, including Wayfair.com, Joss & Main, AllModern, DwellStudio and Birch Lane. The Company offers a range of furniture, home furnishings, decor and goods. Wayfair produces editorial content both in-house and through third parties.
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